FOR IMMEDIATE RELEASE
December 19, 2024
Statement from Peter Bevan-Baker on Maritime Electric’s Half Billion Dollar Investment and the Impact on Island Ratepayers and Our Climate Goals
Charlottetown, PE – Yesterday’s announcement from Maritime Electric that the utility is going to spend almost half a billion dollars on equipment upgrades is generating more questions than answers around our province’s commitment to climate action, renewable energy, and the cost this will have to Island ratepayers.
While Maritime Electric says the new investments will help support PEI’s increased reliance on renewable energy, the reality is that this new electricity will be diesel generated. This begs the question whether any of this will actually help PEI meet its net zero goals. Millions of public dollars have been spent on switching to greener solutions like heat pumps and electric vehicles, but this move by Maritime Electric to generate electricity using diesel only serves to undermine the progress Islanders have made towards cleaner energy and our climate goals.
The other major red flag this announcement raises is just how much this investment will end up costing Island ratepayers. We’ve seen previously how Maritime Electric increases are directly passed down to Islanders, many whom are already struggling to pay their utility bills.
For example, the installation of smart meters will cost the utility $64 million, resulting in about a 3 per cent rate increase for Islanders. Using that logic, this half billion dollar investment could result in a potential 20 per cent or more rate increase for ratepayers, or approximately a $287 annual increase for the average Island ratepayer. This increase doesn’t take into account the regular rate increases that Maritime Electric annually makes.
I am baffled by the lack of communication and action from the current Minister of Environment, Energy and Climate Action Gilles Arsenault to address these very real concerns that impact Islanders and our Island’s climate goals. The previous Minister Steven Myers was incredibly inconsistent on whether the Province would consider making Maritime Electric a public utility – first stating he would not, then just a few months later changing his tune and saying he would be looking into it.
Where is the new Minister on this? Is he working with the experts in his department to explore the possibility of making Maritime Electric a public utility? How can he assure Islanders they won’t bear the cost of this half billion dollar upgrade? How can we actually meet our Province’s net zero goals if we continue to rely on dirty, diesel-generated electricity?
Islanders need transparency, clarity and a bold vision from this government, not boilerplate statements that say government will be “monitoring the regulatory review process closely.”
Peter Bevan-Baker
MLA New Haven-Rocky Point
Third Party Critic for Environment, Energy and Climate Action
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For media inquiries, please contact:
Katie Rankin
Chief of Staff
Office of the Third Party
Tel: (902) 213-6378
Email: kerankin@assembly.pe.ca